Value of old German bank notes?

Question

My grandfather passed by and in his desk we have found an envelope with German bank notes:
1) brown notes 50 Deutsche Mark (Funfzig Deutsche Mark) with a signature of 1960; showing an old man with a big head on the front and a building with two towers on the reverse; size about 59x29.5"
2) blue notes 100 Deutsche Mark (Hundert Deutsche Mark) showing an old man on the front and an eagle on the reverse, size about 63x31,5"
3) red notes 500 Deutsche Mark (Fünfhundert Deutsche Mark) showing an old man on the front and a castle (Burg Elzt) on the reverse. size about 67x33.5"
The total amount is 19,500 Deutschmarks.
Will those notes still be of any value and what can I do with them; I plan to study in Germany for a semester in 2013

Answer 1

The size you state confuses me. It looks like they are posters of banknotes. The actual size of the German money is about 1/10 of the size you state. However although this series (BBk I) has been replaced by higher forgery-proof banknotes in the beginning of the 1990s they never became invalid. They were just no longer issued and the old notes were turned in to the federal bank by the banks. Those banknotes can still be exchanged against the €uro at all regional offices and branches of the German federal bank. Exchange rate: DM 1.95583 = 1 €uro; 19,500 DM = €9,970.19 or $12,397.65 based on the current exchange rate.

http://www.bundesbank.de/Redaktion/EN/Standardartikel/Core_business_areas/Cash_management/dm_banknotes_coins_exchange.html ..



Just take them over to Germany when you come to study and have them exchanged to €uros at a federal bank office.

http://www.bundesbank.de/Navigation/EN/Bundesbank/Regional_Offices_and_branches/regional_offices_and_branches.html ..

Answer 2

Just getting monies baxk with the entire notes would be an fulfillment in my opinioon. The Reich Mark was a small alternate irrespective of how a lot monies humans held.I heard. Are trying your dwelling financial institution and cost the entire transaction of the entire notes. Collectors will purchase the peculiar coin at a excessive rate but frequently pay out little. There are collector books that provide costs on collectables, notes, stamps and the like. Older does now not imply a excellent acquire.

Answer 3

Wow! Yes, these banknotes are still of value. You can exchange them at a "Landeszentralbank" (there are several, one for each of the German Länder).



The value would be a little less than EUR 10,000. As it happens, EUR 10,000 is the amount at which you have to declare cash that you bring into Germany from outside the EU, or that you take out of Germany. It says so here: http://www.zoll.de/DE/Privatpersonen/Reisen/Als-Tourist-nach-Deutschland/Einschraenkungen/Bargeld/bargeld_node.html



Take care when traveling!



Oh wait, I was just kidding. The money is all worthless and I'll buy if off you for $ 100, ok? ;-)



There's a Landeszentralbank at Düsseldorf, at Munich, and I'm not sure where the other ones are. Here's more info on the exchange: http://www.bundesbank.de/Redaktion/DE/Standardartikel/Kerngeschaeftsfelder/Bargeld/dm_euro_umtausch.html

Answer 4

These notes have no monetary value any more but might be of interest to collectors. Their value depends on their condition. Collectors want them in near perfect condition. Well use copies are worth very little.